With deep reservations, President Donald Trump on Wednesday signed a bipartisan bill that imposes new financial sanctions on Russia for its alleged actions in last year's presidential election.

The "Countering America's Adversaries Through Sanctions Act" also targets Iran and North Korea with sanctions for recent aggressive actions.

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There originally was a question of whether the president would veto the measure, but it was likely Congress would have overridden that veto. In recent days, White House officials indicated the president would sign the bill.

In a statement, Trump said he has concerns over the "seriously flawed" measure over "the many ways it improperly encroaches on Executive power, disadvantages American companies, and hurts the interests of our European allies."

The Senate passed the bill Thursday, 97-2, and it had overwhelming support in the House, as well, passing in a 419-3 vote two days earlier. Congressional approval would be needed for the Trump to lift the sanctions.

Moscow responded to the bill after it passed Congress last week by cutting down the number of U.S. diplomats in Russia.

"The situation is bad, but believe me, it can get worse" Secretary of State Rex Tillerson said Tuesday. "And it just did."

U.S. intelligence agencies have accused Russia, at the direction of President Vladimir Putin, of meddling in the 2016 campaign to aid Trump. But the bill also addresses Russian aggression in the Ukraine and elsewhere.

Trump throughout the campaign promised improved relations with Russia. The nations came to an agreement on a ceasefire in the Syrian civil war, where Russia has been active in backing the Assad regime, after a meeting between Trump and Putin in Germany last month.

President Trump’s statement on the "Countering America’s Adversaries Through Sanctions Act."